Inflation-linked (TIPS)

91282CJY8 · 1.75% due January 15, 2034

Original term
10-Year
Maturity
Jan 15, 2034
Coupon
1.750%
Pays
Semi-Annual
Dated
Jan 15, 2024
First coupon
Jul 15, 2024
Priced through
Sep 9, 2026
Analyzed through
not analyzed

Statement of August 31, 2026

Amount outstanding
$55.30bn
Held stripped
$0.0m
Share stripped
0.00%

Stripped par is held as separate interest and principal components rather than as whole securities. The Safe Rate indices deliberately do not deduct it, and the whole-market figure is published so that decision can be argued with. Market statistics.

Amount outstanding as reported by Treasury, in its Monthly Statement of the Public Debt. The Safe Rate indices weight on a different figure, float-adjusted original par, and the two are not comparable security by security. For an inflation-linked security the difference is mostly inflation rather than float: Treasury reports what a holder is owed today, which includes the uplift shown as the index ratio above, while the index keeps original par and carries the uplift in the price. The index figures are published per holding.

Inflation-linked measures, September 9, 2026

An inflation-linked security prices off a real curve, so its yield is a real yield, a return above inflation rather than in cash terms, and its principal is indexed. The figures below are in REAL terms unless labeled otherwise.

Real yield
2.313%
Index ratio
1.0864
Real duration
6.817 yr
DV01
0.0658
Convexity
51.790
Real clean price
96.219
Accrued (real)
0.271
Real dirty price
96.490
Indexed principal
108.637
Money clean price
104.530

The index ratio is a multiplier, not a percentage: 1.0864 means the principal is worth that many times its original face today. So the real clean price of 96.219 is not what a buyer pays , multiply by the ratio to get 104.530 per 100 of original face.

Against the fitted real curve

Priced 1.7 bp cheap to the real curve on that day, 11.12 cents per 100 of face.

Not scored against its own history. A linker needs twenty observations before a score means anything.

Real yield, 654 observations

1.4%1.6%1.8%2.0%2.2%2.4%Jan 31, 2024Sep 9, 2026Jan 31, 2024Real yield1.733%Feb 5, 2024Real yield1.902%Feb 8, 2024Real yield1.913%Feb 13, 2024Real yield2.019%Feb 16, 2024Real yield1.970%Feb 22, 2024Real yield2.016%Feb 27, 2024Real yield1.988%Mar 1, 2024Real yield1.865%Mar 6, 2024Real yield1.806%Mar 11, 2024Real yield1.827%Mar 14, 2024Real yield1.992%Mar 19, 2024Real yield1.996%Mar 22, 2024Real yield1.876%Mar 27, 2024Real yield1.883%Apr 1, 2024Real yield1.983%Apr 4, 2024Real yield1.965%Apr 9, 2024Real yield1.994%Apr 12, 2024Real yield2.110%Apr 17, 2024Real yield2.201%Apr 22, 2024Real yield2.213%Apr 25, 2024Real yield2.279%Apr 30, 2024Real yield2.280%May 3, 2024Real yield2.145%May 8, 2024Real yield2.171%May 13, 2024Real yield2.153%May 16, 2024Real yield2.073%May 21, 2024Real yield2.084%May 24, 2024Real yield2.143%May 30, 2024Real yield2.191%Jun 4, 2024Real yield2.023%Jun 7, 2024Real yield2.133%Jun 12, 2024Real yield2.093%Jun 17, 2024Real yield2.064%Jun 21, 2024Real yield2.025%Jun 26, 2024Real yield2.061%Jul 1, 2024Real yield2.162%Jul 5, 2024Real yield2.000%Jul 10, 2024Real yield2.007%Jul 15, 2024Real yield1.956%Jul 18, 2024Real yield1.935%Jul 23, 2024Real yield2.001%Jul 26, 2024Real yield1.972%Jul 31, 2024Real yield1.880%Aug 5, 2024Real yield1.746%Aug 8, 2024Real yield1.906%Aug 13, 2024Real yield1.786%Aug 16, 2024Real yield1.837%Aug 21, 2024Real yield1.743%Aug 26, 2024Real yield1.699%Aug 29, 2024Real yield1.732%Sep 4, 2024Real yield1.732%Sep 9, 2024Real yield1.681%Sep 12, 2024Real yield1.645%Sep 17, 2024Real yield1.548%Sep 20, 2024Real yield1.598%Sep 25, 2024Real yield1.626%Sep 30, 2024Real yield1.633%Oct 3, 2024Real yield1.651%Oct 8, 2024Real yield1.779%Oct 11, 2024Real yield1.768%Oct 17, 2024Real yield1.805%Oct 22, 2024Real yield1.883%Oct 25, 2024Real yield1.970%Oct 30, 2024Real yield1.962%Nov 4, 2024Real yield2.042%Nov 7, 2024Real yield1.989%Nov 13, 2024Real yield2.104%Nov 18, 2024Real yield2.093%Nov 21, 2024Real yield2.101%Nov 26, 2024Real yield2.040%Dec 2, 2024Real yield1.941%Dec 5, 2024Real yield1.926%Dec 10, 2024Real yield1.946%Dec 13, 2024Real yield2.076%Dec 18, 2024Real yield2.193%Dec 23, 2024Real yield2.276%Dec 27, 2024Real yield2.288%Jan 2, 2025Real yield2.238%Jan 7, 2025Real yield2.301%Jan 10, 2025Real yield2.350%Jan 15, 2025Real yield2.239%Jan 21, 2025Real yield2.189%Jan 24, 2025Real yield2.178%Jan 29, 2025Real yield2.115%Feb 3, 2025Real yield2.053%Feb 6, 2025Real yield1.992%Feb 11, 2025Real yield2.039%Feb 14, 2025Real yield2.004%Feb 20, 2025Real yield2.000%Feb 25, 2025Real yield1.873%Feb 28, 2025Real yield1.819%Mar 5, 2025Real yield1.892%Mar 10, 2025Real yield1.861%Mar 13, 2025Real yield1.920%Mar 18, 2025Real yield1.939%Mar 21, 2025Real yield1.870%Mar 26, 2025Real yield1.920%Mar 31, 2025Real yield1.773%Apr 3, 2025Real yield1.700%Apr 8, 2025Real yield1.980%Apr 11, 2025Real yield2.236%Apr 16, 2025Real yield2.064%Apr 21, 2025Real yield2.136%Apr 24, 2025Real yield1.965%Apr 29, 2025Real yield1.891%May 2, 2025Real yield1.994%May 7, 2025Real yield1.934%May 12, 2025Real yield2.086%May 15, 2025Real yield2.030%May 20, 2025Real yield2.047%May 23, 2025Real yield2.088%May 29, 2025Real yield2.012%Jun 3, 2025Real yield2.036%Jun 6, 2025Real yield2.117%Jun 11, 2025Real yield2.053%Jun 16, 2025Real yield2.065%Jun 20, 2025Real yield1.957%Jun 25, 2025Real yield1.909%Jun 30, 2025Real yield1.849%Jul 3, 2025Real yield1.926%Jul 9, 2025Real yield1.906%Jul 14, 2025Real yield1.930%Jul 17, 2025Real yield1.914%Jul 22, 2025Real yield1.838%Jul 25, 2025Real yield1.874%Jul 30, 2025Real yield1.866%Aug 4, 2025Real yield1.754%Aug 7, 2025Real yield1.782%Aug 12, 2025Real yield1.806%Aug 15, 2025Real yield1.839%Aug 20, 2025Real yield1.826%Aug 25, 2025Real yield1.750%Aug 28, 2025Real yield1.674%Sep 3, 2025Real yield1.690%Sep 8, 2025Real yield1.573%Sep 11, 2025Real yield1.542%Sep 16, 2025Real yield1.553%Sep 19, 2025Real yield1.641%Sep 24, 2025Real yield1.669%Sep 29, 2025Real yield1.685%Oct 2, 2025Real yield1.653%Oct 7, 2025Real yield1.677%Oct 10, 2025Real yield1.640%Oct 16, 2025Real yield1.608%Oct 21, 2025Real yield1.599%Oct 24, 2025Real yield1.623%Oct 29, 2025Real yield1.688%Nov 3, 2025Real yield1.713%Nov 6, 2025Real yield1.721%Nov 12, 2025Real yield1.696%Nov 17, 2025Real yield1.738%Nov 20, 2025Real yield1.738%Nov 25, 2025Real yield1.672%Dec 1, 2025Real yield1.733%Dec 4, 2025Real yield1.725%Dec 9, 2025Real yield1.812%Dec 12, 2025Real yield1.808%Dec 17, 2025Real yield1.804%Dec 22, 2025Real yield1.829%Dec 26, 2025Real yield1.800%Dec 31, 2025Real yield1.826%Jan 6, 2026Real yield1.792%Jan 9, 2026Real yield1.784%Jan 14, 2026Real yield1.729%Jan 20, 2026Real yield1.843%Jan 23, 2026Real yield1.758%Jan 28, 2026Real yield1.725%Feb 2, 2026Real yield1.746%Feb 5, 2026Real yield1.687%Feb 10, 2026Real yield1.636%Feb 13, 2026Real yield1.569%Feb 19, 2026Real yield1.598%Feb 24, 2026Real yield1.585%Feb 27, 2026Real yield1.505%Mar 4, 2026Real yield1.597%Mar 9, 2026Real yield1.559%Mar 12, 2026Real yield1.660%Mar 17, 2026Real yield1.592%Mar 20, 2026Real yield1.793%Mar 25, 2026Real yield1.823%Mar 30, 2026Real yield1.823%Apr 2, 2026Real yield1.763%Apr 7, 2026Real yield1.754%Apr 10, 2026Real yield1.754%Apr 15, 2026Real yield1.689%Apr 20, 2026Real yield1.698%Apr 23, 2026Real yield1.707%Apr 28, 2026Real yield1.689%May 1, 2026Real yield1.672%May 6, 2026Real yield1.719%May 11, 2026Real yield1.724%May 14, 2026Real yield1.772%May 19, 2026Real yield1.962%May 22, 2026Real yield1.976%May 28, 2026Real yield1.865%Jun 2, 2026Real yield1.887%Jun 5, 2026Real yield2.026%Jun 10, 2026Real yield2.049%Jun 15, 2026Real yield1.991%Jun 18, 2026Real yield2.068%Jun 24, 2026Real yield2.096%Jun 29, 2026Real yield2.024%Jul 2, 2026Real yield2.116%Jul 8, 2026Real yield2.148%Jul 13, 2026Real yield2.195%Jul 16, 2026Real yield2.177%Jul 21, 2026Real yield2.210%Jul 24, 2026Real yield2.295%Jul 29, 2026Real yield2.258%Aug 3, 2026Real yield2.287%Aug 6, 2026Real yield2.283%Aug 11, 2026Real yield2.274%Aug 14, 2026Real yield2.237%Aug 19, 2026Real yield2.177%Aug 24, 2026Real yield2.206%Aug 27, 2026Real yield2.183%Sep 1, 2026Real yield2.292%Sep 4, 2026Real yield2.284%Sep 9, 2026Real yield2.313%

Price history

654 trading days to Sep 9, 2026

9596979899100101102Jan 31, 2024Sep 9, 2026Jan 31, 2024Close100.156Feb 5, 2024Close98.625Feb 8, 2024Close98.531Feb 13, 2024Close97.594Feb 16, 2024Close98.031Feb 22, 2024Close97.625Feb 27, 2024Close97.875Mar 1, 2024Close98.969Mar 6, 2024Close99.500Mar 11, 2024Close99.313Mar 14, 2024Close97.844Mar 19, 2024Close97.813Mar 22, 2024Close98.875Mar 27, 2024Close98.813Apr 1, 2024Close97.938Apr 4, 2024Close98.094Apr 9, 2024Close97.844Apr 12, 2024Close96.844Apr 17, 2024Close96.063Apr 22, 2024Close95.969Apr 25, 2024Close95.406Apr 30, 2024Close95.406May 3, 2024Close96.563May 8, 2024Close96.344May 13, 2024Close96.500May 16, 2024Close97.188May 21, 2024Close97.094May 24, 2024Close96.594May 30, 2024Close96.188Jun 4, 2024Close97.625Jun 7, 2024Close96.688Jun 12, 2024Close97.031Jun 17, 2024Close97.281Jun 21, 2024Close97.625Jun 26, 2024Close97.313Jul 1, 2024Close96.469Jul 5, 2024Close97.844Jul 10, 2024Close97.781Jul 15, 2024Close98.219Jul 18, 2024Close98.406Jul 23, 2024Close97.844Jul 26, 2024Close98.094Jul 31, 2024Close98.875Aug 5, 2024Close100.031Aug 8, 2024Close98.656Aug 13, 2024Close99.688Aug 16, 2024Close99.250Aug 21, 2024Close100.063Aug 26, 2024Close100.438Aug 29, 2024Close100.156Sep 4, 2024Close100.156Sep 9, 2024Close100.594Sep 12, 2024Close100.906Sep 17, 2024Close101.750Sep 20, 2024Close101.313Sep 25, 2024Close101.063Sep 30, 2024Close101.000Oct 3, 2024Close100.844Oct 8, 2024Close99.750Oct 11, 2024Close99.844Oct 17, 2024Close99.531Oct 22, 2024Close98.875Oct 25, 2024Close98.156Oct 30, 2024Close98.219Nov 4, 2024Close97.563Nov 7, 2024Close98.000Nov 13, 2024Close97.063Nov 18, 2024Close97.156Nov 21, 2024Close97.094Nov 26, 2024Close97.594Dec 2, 2024Close98.406Dec 5, 2024Close98.531Dec 10, 2024Close98.375Dec 13, 2024Close97.313Dec 18, 2024Close96.375Dec 23, 2024Close95.719Dec 27, 2024Close95.625Jan 2, 2025Close96.031Jan 7, 2025Close95.531Jan 10, 2025Close95.156Jan 15, 2025Close96.031Jan 21, 2025Close96.438Jan 24, 2025Close96.531Jan 29, 2025Close97.031Feb 3, 2025Close97.531Feb 6, 2025Close98.031Feb 11, 2025Close97.656Feb 14, 2025Close97.938Feb 20, 2025Close97.969Feb 25, 2025Close99.000Feb 28, 2025Close99.438Mar 5, 2025Close98.844Mar 10, 2025Close99.094Mar 13, 2025Close98.625Mar 18, 2025Close98.469Mar 21, 2025Close99.031Mar 26, 2025Close98.625Mar 31, 2025Close99.813Apr 3, 2025Close100.406Apr 8, 2025Close98.156Apr 11, 2025Close96.156Apr 16, 2025Close97.500Apr 21, 2025Close96.938Apr 24, 2025Close98.281Apr 29, 2025Close98.875May 2, 2025Close98.063May 7, 2025Close98.531May 12, 2025Close97.344May 15, 2025Close97.781May 20, 2025Close97.656May 23, 2025Close97.344May 29, 2025Close97.938Jun 3, 2025Close97.750Jun 6, 2025Close97.125Jun 11, 2025Close97.625Jun 16, 2025Close97.531Jun 20, 2025Close98.375Jun 25, 2025Close98.750Jun 30, 2025Close99.219Jul 3, 2025Close98.625Jul 9, 2025Close98.781Jul 14, 2025Close98.594Jul 17, 2025Close98.719Jul 22, 2025Close99.313Jul 25, 2025Close99.031Jul 30, 2025Close99.094Aug 4, 2025Close99.969Aug 7, 2025Close99.750Aug 12, 2025Close99.563Aug 15, 2025Close99.313Aug 20, 2025Close99.406Aug 25, 2025Close100.000Aug 28, 2025Close100.594Sep 3, 2025Close100.469Sep 8, 2025Close101.375Sep 11, 2025Close101.625Sep 16, 2025Close101.531Sep 19, 2025Close100.844Sep 24, 2025Close100.625Sep 29, 2025Close100.500Oct 2, 2025Close100.750Oct 7, 2025Close100.563Oct 10, 2025Close100.844Oct 16, 2025Close101.094Oct 21, 2025Close101.156Oct 24, 2025Close100.969Oct 29, 2025Close100.469Nov 3, 2025Close100.281Nov 6, 2025Close100.219Nov 12, 2025Close100.406Nov 17, 2025Close100.094Nov 20, 2025Close100.094Nov 25, 2025Close100.594Dec 1, 2025Close100.125Dec 4, 2025Close100.188Dec 9, 2025Close99.531Dec 12, 2025Close99.563Dec 17, 2025Close99.594Dec 22, 2025Close99.406Dec 26, 2025Close99.625Dec 31, 2025Close99.438Jan 6, 2026Close99.688Jan 9, 2026Close99.750Jan 14, 2026Close100.156Jan 20, 2026Close99.313Jan 23, 2026Close99.938Jan 28, 2026Close100.188Feb 2, 2026Close100.031Feb 5, 2026Close100.469Feb 10, 2026Close100.844Feb 13, 2026Close101.344Feb 19, 2026Close101.125Feb 24, 2026Close101.219Feb 27, 2026Close101.813Mar 4, 2026Close101.125Mar 9, 2026Close101.406Mar 12, 2026Close100.656Mar 17, 2026Close101.156Mar 20, 2026Close99.688Mar 25, 2026Close99.469Mar 30, 2026Close99.469Apr 2, 2026Close99.906Apr 7, 2026Close99.969Apr 10, 2026Close99.969Apr 15, 2026Close100.438Apr 20, 2026Close100.375Apr 23, 2026Close100.313Apr 28, 2026Close100.438May 1, 2026Close100.563May 6, 2026Close100.219May 11, 2026Close100.188May 14, 2026Close99.844May 19, 2026Close98.500May 22, 2026Close98.406May 28, 2026Close99.188Jun 2, 2026Close99.031Jun 5, 2026Close98.063Jun 10, 2026Close97.906Jun 15, 2026Close98.313Jun 18, 2026Close97.781Jun 24, 2026Close97.594Jun 29, 2026Close98.094Jul 2, 2026Close97.469Jul 8, 2026Close97.250Jul 13, 2026Close96.938Jul 16, 2026Close97.063Jul 21, 2026Close96.844Jul 24, 2026Close96.281Jul 29, 2026Close96.531Aug 3, 2026Close96.344Aug 6, 2026Close96.375Aug 11, 2026Close96.438Aug 14, 2026Close96.688Aug 19, 2026Close97.094Aug 24, 2026Close96.906Aug 27, 2026Close97.063Sep 1, 2026Close96.344Sep 4, 2026Close96.406Sep 9, 2026Close96.219
The most recent 20 trading days of prices for 91282CJY8.
DateBidOfferClose
Sep 9, 202696.18896.15696.219
Sep 8, 202696.43896.40696.406
Sep 4, 202696.42296.40696.406
Sep 3, 202696.75096.71996.531
Sep 2, 202696.34496.31396.313
Sep 1, 202696.39196.37596.344
Aug 31, 202696.39196.37596.406
Aug 28, 202696.73496.68896.469
Aug 27, 202697.17297.15697.063
Aug 26, 202697.14197.12597.125
Aug 25, 202697.25097.21997.250
Aug 24, 202697.01697.00096.906
Aug 21, 202696.87596.84496.781
Aug 20, 202696.98496.96997.094
Aug 19, 202697.09497.06397.094
Aug 18, 202696.68896.65696.719
Aug 17, 202696.65696.62596.531
Aug 14, 202696.67296.65696.688
Aug 13, 202696.84496.81396.781
Aug 12, 202696.65696.62596.531

Prices are per 100 of face, from Treasury's own end-of-day file. A dash in the bid or offer column means none was posted that day.

3 auctions

A CUSIP can be auctioned more than once: Treasury reopens an existing security rather than issuing a new one, so the same bond is sold again at whatever yield the market then wants.

Auction history for 91282CJY8.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Jan 18, 2024Jan 31, 2024New issue$18.0bn$18.0bn2.62x1.810%
Mar 21, 2024Mar 28, 2024Reopening$16.0bn$16.0bn2.35x1.932%
May 23, 2024May 31, 2024Reopening$16.0bn$16.9bn2.33x2.184%

The curve this was priced against →

Index levels before September 30, 2026 are back-tested. They were computed after the fact by applying the rules to historical data, which benefits from hindsight in the choice of rules, and an index cannot be invested in directly. Methodology v1.0 takes effect at that rebalance, when levels begin to be struck on the day; the rulebook is identical either way, and the version is published on every row.

A fitted curve is a fit, not a quote. Daily error averages 3.8 basis points across the history and reaches about 20 on the worst days, in December 2008, when the market was genuinely hard to fit one smooth curve to. Every curve page publishes its own fit error rather than burying it.

Free to benchmark against. Paid only to track. Measuring anything against these curves and indices is free. No license, no fee, no registration, and no permission needed to say that you did, including in a prospectus. A fee applies to one thing: launching a product that tracks an index.

Safe Rate™, Safe Rate Indices™ and the Safe Rate US Treasury Index™ are trademarks of Safe Rate, claimed through use in commerce and not registered. Third-party marks are the property of their owners, which are not affiliated with and do not endorse this data.

Curves are fitted from public Treasury data and carry fit error; figures are not a record of trading, and an index cannot be invested in directly. No claim of compliance with the IOSCO Principles for Financial Benchmarks is made or implied. Not investment advice, not an offer, and not a recommendation to buy or sell any security.